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Registrar of Credit Unions gives speech on challenges in the industry at Irish League of Credit Unions AGM

Anne Marie McKiernan, the Registrar of Credit Unions, has given a speech to the AGM of the Irish League of Credit Unions noting that the key challenges for the Credit Union sector are attracting and retaining active borrowers, and having strong leadership within entities. The Registrar also emphasised the benefits of sectoral restructuring and business model transformation for the sector. In relation to a possible extension to the permitted use of credit union funds, the Registrar referred to the Credit Union Act 1997 (Regulatory Requirements) Regulations 2016 which allow for further classes of investment to be prescribed for. One example given was the possibility of the inclusion of social housing projects which could qualify under the characterisation of ‘projects of a public nature’.

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